What is the EU Directive on Trade Secrets, and How is Compliance Determined?
The EU Directive on Trade Secrets requires all European Union member countries to incorporate minimum rules and remedies into their nationwide trade secrets laws. It specifically governs what businesses are entitled to in the event others access, use, or disclose their trade secrets unlawfully, without prior authorization, or contrary to acceptable business practices. It was enacted to create a more uniform framework for addressing trade secrets disputes across the EU.
Although the directive protects a wide array of proprietary secrets, they must meet specific requirements to merit protection. To qualify, the secret must not be generally known to outsiders or individuals working in the field of the secret, and must derive its value from being kept secret. Businesses need to also take reasonable steps to keep their methods and processes secret by using methods that account for their sensitivity and value, the severity of pertinent threats, and protection costs. The directive recommends offering owners the ability to request injunctive relief, financial compensation, or commensurate damages. EU nations can also enact criminal sanctions at their discretion.
How Does EU Directive On Trade Secrets Hosting Work?
Abacus Private Cloud offers three layers of physical, server, and data security to protect your organization’s proprietary data at rest and in transit. This allows you to leverage 256-bit AES encryption; SSL-A-rated data centers; and other top-flight security features to safeguard your proprietary methods and processes. Doing so can help show that you are taking reasonable steps to keep your trade secrets secret.
What Do I Need to Do to Audit & Maintain Compliance with the EU Directive on Trade Secrets?
Our dedicated hosting team can help securely migrate your data and apply critical updates and patches to your account’s safeguards and software. Your organization, however, should always be cognizant about what data you upload on your platform and how you manage your account’s user control features.